C3 - Consensus Hybrid
A proposal may impact any or all of the following, Treasury allocation and distribution, Branding & Mission Statement, the Constitution
What is MahaDAO's 'Consensus Hybrid' System?
Our system uses a standard delegation vote that leverages the MahaDAO NFT as the voting participant. The MahaDAO NFT has a unique feature that allows our Governance Power (MAHAX) to be embedded into the NFT itself. Governance power (MAHAX) is acquired by first-time-locking. 'MAHA' for a fixed duration. When someone locks up 100 Maha for 4 years, the protocol will mint this into a unique NFT.
With the one NFT, we can facilitate a standard delegation vote and a tally count of the NFTs. The NFT tally count is then (within an acceptable threshold) considered as an individual voting entity. To understand the relevance of the NFT criteria, please refer to this preliminary idea for improving consensus with weighted governance.
Relative to the tokenomics and supply distribution, and in combination with the incentive model of C-1 classification proposals, there is a significantly greater advantage and incentive to hold 1 (one) MahaNFT, as opposed to 2 (two) or more. This allows us to utilize the MahaDAO NFT in a way that can quantify collective preference in addition to weighted balances.
Two-Factor Majority (2FM), a 'Pass' requires both a majority coin weighting and a majority of participating NFTs to approve the C.3 classification proposal. While there is the possibility for a single voter to hold multiple MahaDAO NFTs, the induced difficulty through locking and cost makes this a less likely occurrence to see. In addition, the incentives built around C.1 proposals have the added effect of encouraging whales to concentrate power into a single NFT. We can further build more incentives around this behavior, yet as it is the minimum criteria and is sufficient to yield a statistically significant measure of collective and individual consensus.
Proposal Applications
The MahaDAO Constitution
Treasury Management (Grants, Allocations, and Initiatives; excluding 'C-1 Emission Proposals'
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